IPO FOR SPRING AIRLINES

By Dino D'Amore
January 25, 2011 15:15

Privately-owned Spring Airlines is planning launch an initial public offering (IPO) on the Chinese stock market. The airline is reported to be consulting UBS Securities for details and has filed in China Securities Regulatory Commission (CSRC) Shanghai Bureau.

Spring Airlines is still waiting for governmental approval, and will not invite any strategic investor or issue private equity. In 2010, the airline made net profits of 470 million yuan ($71.39 million), an increase of 240 percent year on year.